Quality management Assignment Example | Topics and Well Written Essays - 1250 words - 1

Quality management - Assignment Example constitute an organization’s stakeholders. Any of these variables has the potential to affect or be affected by the actions of an organization or project. For instance, when aligning goals management should ensure that there is an investor value proposition which can attract and satisfy investors. In the same way, only if the program involves buyer value, it can attract and retain its customers. However, the value attributed to each group can add to the overall success of the business only if reciprocity ensured. If the suppliers do not keep a favorable stance, the company cannot meet its customer needs in proportion to the customer value. This is the context when a business management has to demonstrate its ability to align the stakeholders. When a firm offers high quality products to its customers, it should also ensure that its suppliers are also treated with fair price. Obviously, a profit driven organization tends to fail in this regard. As Jeston and Nelis point out, one of the primary steps of any project is the ‘identification and analysis of the project stakeholders’; and this analysis involve understanding the leadership styles, stakeholder position in the organization, their personal drives etc (264). Stakeholders possess a significant role in the progress of the business. For instance, meeting the expectation of the stakeholder in a responsible manner is important. Every organization or company has its own goal or target; and completion of such strategy always assures company’s and stakeholders’ prosperity. Theories of Cornell University are the perfect examples for this as it always focuses on three aspects such as â€Å"understanding expectation, measurement and accountability† ("Stakeholder Alignment Model"). Economic growth and achieving targets are always the two pillars of a strong business firm. There are numerous hurdles to overcome in order for achieving a common goal. First of